Magic circle duo bed down for €1.2bn Hotelbeds sale
Freshfields is advising long standing client Cinven while Allen & Overy is the owner of Thompson Airways and Thompson Holiday
April 28, 2016 at 07:03 AM
2 minute read
Allen & Overy (A&O) and Freshfields Bruckhaus Deringer have both landed lead roles on the €1.2bn (£907m) sale of travel company TUI Group's hotel booking platform Hotelbeds Group.
Private equity house Cinven and Canada Pension Plan Investment Board (CPPIB) are acquiring the accommodation provider.
A&O is advising TUI Group, of which Thomson Airways and Thomson Holidays are subsidiaries.
Hamburg-based corporate partner Helge Schafer is leading the firm's team on the deal.
Freshfields is advising long-standing client Cinven with a team led by City corporate partners David Higgins and Victoria Sigeti, Munich-based corporate partner Wessel Heukamp, and banking finance partner Chris Davis.
Sigeti advised the PE house on its acquisition of luxury footwear retailer Kurt Geiger last December. On that deal she was supported by City corporate partner Adrian Maguire.
Maguire acted for Cinven in January 2015 when it purchased GTCR's UK financial services company Premium Credit Limited for £462m.
In another travel sector deal earlier this month, A&O advised on the $965m (£684m) combined financing of foreign exchange companies Travelex and UAE Exchange.
A&O acted for global co-ordinating banks Goldman Sachs and Qatar National Bank together with a group of arrangers that included Doha Bank, Barclays Bank, Commercial Bank International, National Bank of Fujairahm, Abu Dhabi Commercial Bank and IDBI Bank.
Its team was led by finance partner Denise Gibson in London and finance partner Peter Timchur in Dubai.
Capital markets co-head Simon Hill advised the security and facility agents under both facilities.
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